EDNC SEC filings, in plain English
Everything Endurance Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: DEFM14A filed September 30, 2022: Endurance Acquisition Corp.'s definitive proxy/prospectus for the combination with SatixFy Communications Ltd., an Israeli company, under the business combination agreement dated March 8, 2022 as amended June 13 and August 23, 2022. SatixFy MS merges into Endurance, which survives as SatixFy's wholly owned subsidiary. SatixFy registers up to 24,200,000 ordinary shares, 17,630,000 warrants and 17,630,000 ordinary shares underlying those warrants, and states it is NOT registering existing SatixFy shares, the PIPE securities, or the Price Adjustment Shares. Why it matters: Redemption nearly empties the trust in the modelled case: 19,502,487 shares out for approximately $196.0 million at $10.05, against approximately $201,268,266 held at June 30, 2022; the 50% case is 10,000,000 shares for about $100.5 million. The PIPE is small — 2,910,000 SatixFy units, each one ordinary share plus half a redeemable warrant exercisable at $11.50. Assuming no redemptions, SatixFy's shareholders hold about 68.7%, Endurance's public and non-sponsor founder holders about 24.1%, the Sponsor about 4.8% and the PIPE investors about 2.1%.
- What changed vs 2022-05-16trust $201.0M → $201.3M +0%
trust account, combination deadline, going-concern doubt +31 moved · 5 with no prior record of ours
- Trust account
- $201.0M$201.3M
- Combination deadline
- 2023-03-17 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $148K · unchanged
- Mandate language
- the Company intends to focus its search for a target busines… · unchanged
- Redeemable shares
- 20.0M · unchanged
SpacBrain reads this as $244,969 was added to the trust between the two filings.
The clause “0,379 1,146,117 Prepaid expenses, non-current — 443,363 Investments held in Trust Account 201,268,266 201,007,683 Total assets $ 201,938,645 $ 202,597,163 Liabilities and Shareholders’ Deficit ”…
The clause …“However, there can be no assurance that we will be able to consummate any business combination by March 17, 2023. Off-Balance Sheet Financing Arrangements We have no obligations, assets or liabilities, which would be considered”…
The clause …“of a Business Combination or one year from this filing which raises substantial doubt about the Company’s ability to continue as a going concern. Management has determined that the mandatory liquidation, should a business”…
The clause …“note to be used for a portion of the expenses of the IPO. The Company had borrowed $ 148,372 under promissory note, which was fully repaid on September 17, 2021. At June 30, 2022 and December 31, 2021, no promissory note was”…
The clause …“value; 200,000,000 shares authorized; none issued and outstanding (exclude 20,000,000 shares subject to possible redemption) as of June 30, 2022 and December 31, 2021 — — Class B ordinary shares, $ 0.0001 par value;”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-11-15trust $201.0M → $201.0M +0%going concern APPEARED
trust account, going-concern doubt, combination deadline +32 moved · 4 with no prior record of ours
- Trust account
- $201.0M$201.0M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2023-03-17 · unchanged
- Sponsor loans outstanding
- $148K · unchanged
- Mandate language
- the Company intends to focus its search for a target busines… · unchanged
- Redeemable shares
- 20.0M · unchanged
SpacBrain reads this as $22,691 was added to the trust between the two filings.
The clause “3,065 1,146,117 Prepaid expenses, non-current — 443,363 Investments held in Trust Account 201,023,297 201,007,683 Total assets $ 202,086,362 $ 202,597,163 Liabilities and Shareholders’ Deficit ”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“of a Business Combination or one year from this filing which raises substantial doubt about the Company’s ability to continue as a going concern. Management has determined that the mandatory liquidation, should a business”…
The clause …“However, there can be no assurance that we will be able to consummate any business combination by March 17, 2023. Off-Balance Sheet Financing Arrangements We have no obligations, assets or liabilities, which would be considered”…
The clause …“note to be used for a portion of the expenses of the IPO. The Company had borrowed $ 148,372 under promissory note, which was fully repaid on September 17, 2021. At March 31, 2022 and December 31, 2021, no promissory note was”…
The clause …“value; 200,000,000 shares authorized; none issued and outstanding (exclude 20,000,000 shares subject to possible redemption) as of March 31, 2022 and December 31, 2021 — — Class B ordinary shares, $ 0.0001 par value;”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.